Baron Wealth Management LLC bought a new position in CME Group Inc. (NASDAQ:CME – Free Report) during the 4th quarter, HoldingsChannel reports. The fund bought 891 shares of the financial services provider’s stock, valued at approximately $207,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. SJS Investment Consulting Inc. raised its holdings in CME Group by 570.6% in the 4th quarter. SJS Investment Consulting Inc. now owns 114 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 97 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of CME Group in the 3rd quarter worth $26,000. Dunhill Financial LLC raised its stake in shares of CME Group by 188.4% in the third quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 81 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in shares of CME Group by 120.3% during the fourth quarter. Fortitude Family Office LLC now owns 152 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 83 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of CME Group by 62.2% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 193 shares of the financial services provider’s stock valued at $43,000 after buying an additional 74 shares during the last quarter. Institutional investors own 87.75% of the company’s stock.
Insider Buying and Selling at CME Group
In related news, Director Martin J. Gepsman sold 400 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $222.92, for a total transaction of $89,168.00. Following the completion of the transaction, the director now directly owns 25,067 shares of the company’s stock, valued at approximately $5,587,935.64. This trade represents a 1.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.30% of the company’s stock.
CME Group Stock Performance
CME Group declared that its Board of Directors has authorized a share buyback plan on Thursday, December 5th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
CME Group Increases Dividend
The company also recently announced a dividend, which was paid on Thursday, January 16th. Investors of record on Friday, December 27th were issued a $5.80 dividend. The ex-dividend date was Friday, December 27th. This is an increase from CME Group’s previous dividend of $2.50. CME Group’s dividend payout ratio is currently 48.37%.
Analysts Set New Price Targets
A number of brokerages have weighed in on CME. Keefe, Bruyette & Woods decreased their target price on CME Group from $260.00 to $256.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Oppenheimer boosted their price objective on shares of CME Group from $245.00 to $258.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. The Goldman Sachs Group raised their target price on shares of CME Group from $195.00 to $198.00 and gave the stock a “sell” rating in a report on Thursday, October 3rd. Piper Sandler boosted their target price on shares of CME Group from $250.00 to $258.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on CME Group from $227.00 to $226.00 and set a “hold” rating on the stock in a research note on Monday, November 11th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $229.27.
Check Out Our Latest Stock Analysis on CME
CME Group Profile
CME Group Inc, together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income and foreign currency trading services.
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